Apple Profit Soars, Revenue Tops $100 Bn For First Time

Apple Profit Soars, Revenue Tops $100 Bn For First Time

Apple said Wednesday that profits surged in the final three months of the year on growing sales of iPhones and services, which lifted revenues to an all-time record.

Profit in the period ended December 26 rose 29 percent from a year ago to $28.7 billion, while revenues grew 21 percent to $111.4 billion, with international sales accounting for nearly two-thirds of sales.

Sales topped the $100 billion mark for the first time as Apple won over pandemic-hit consumers with new gadgets and services.





Apple said revenue topped $100 billion for the first time in the latest quarter, as the tech giant delivered new products and services that resonated with pandemic-hit consumers
 AFP / Miguel MEDINA

“We’re gratified by the enthusiastic customer response to the unmatched line of cutting-edge products that we delivered across a historic holiday season,” chief executive Tim Cook said.

Apple said iPhone sales accounted for nearly $66 billion, leading all other products and growing some 18 percent.

But the tech giant also saw strong growth in wearables, including its Apple Watch, delivering $12.9 billion in sales for that category in the company’s fiscal first quarter.

Services accounted for $15.7 billion as Apple grew sales of music, digital content, cloud computing and subscriptions.